FTSE 100 intraday trading - JUNE 2003

Hi Bonsai,

Yep, case of fools rush in- this am.

More of a turn around on the day- it must have been up over 1% at some point during the day- agree with continuation of overall trend.
60 min chart actually gave a buy signal @ 4050.

Yep, you're right on the break even bit. Oh so nearly closed at 4070 for a small loss when I popped back. 'cos it did look like a bottom @ 4065 ( which in hindsight thankfully I just missed )then a slightly higher low @ 4071- hate loosing even 5 or 6 pts. The rest played out as I thought & hoped it would lower high @ circa 4085 & then a rapid descent :cheesy:

Was wrong about the Dow- now @ 9051/6

Just digesting your comment on the 5th wave.

So do you have a target ?

Looking at it- my guess is c. 4000 mark.

Do you trade the 3rd wave ??

Supposed to be the most profitable.
if we seriously break the bottom channel line, anything
could happen (and probably will)
4000 is a pretty number so you never know.
all I can say is that if this wave is a 5th it should have 5 legs
but if sentiment worsens it could always extend, so I dont
have 'targets'.Its gonna do what it needs to do.
Hi Lockstock still at it I see LOL

Fluke & others as it was a good trading today I have put together my charts from what I did. Fluke I have decided that the 14 RSI is better suited to the trend change deals as it illustrates the trend better IMHO. On the 5 min chart I have decided that the 13 SMA is better suited because it remains that much closer to the price than the 34 EMA when trending the trends tends to give you a wake up call if you are not keeping up.LOL The 34 EMA appears better suited to the 1 - 3 min charts.



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My example of trading the 5+ pointers today.


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    ftse 30 jun 03 - sma.gif
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Hi Kevin,

On your chart why would you have gone long at point 9.

The trend was still down then surely?


A temporary trend change with a higher pivot which was followed by 2 more before the price resumed the trend.